The Profession

Background

The management consultancy profession dates back to the mid 1920's when eminent specialists such as Charles Bedeaux started advising manufacturing clients on incentives and performance improvement. The Charles Bedeaux Company which later became Inbucon Management Consultants became a leading force in both the USA and in Britain [Inbucon also operated for a period in the UK under the name of Associated Industrial Consultants (AIC)]. The earliest consulting companies in the United Kingdom such as Urwick Orr and Partners, P A Consulting Group, P-E Consulting Group and W S Atkins all starting business in the early 1930's. This embryo group of companies developed international practices and operated internationally from the 1950's. The UK Management Consultancy Association was formed during this period (1956). Consulting business was particularly buoyant in the 1960 and early 1970's with all companies expanding at record levels. Famous American names such as MacKinsey, Bain and Partners, Boston Consulting Group and Arthur D Little, came into prominence. Recessions in 1973 and 1978 forced many consulting companies to retrench and to reorient their offerings away from generalist management consulting into specialist groups. The 1980's was again a period of expansion and the forming of larger entities through acquisition and merger. It was not until the early 1970's that the big Accounting and Auditing practices addressed themselves to the consulting profession, but with their many contacts in private business and in the public sector soon outgrew the traditional consulting specialists. The accounting houses dominated the consulting market during the 1990's.

Since the formation of MCAHK in 1999 and the beginning of a new millennium, consultancies in Hong Kong (many of whom are derivatives of famous names of the last six decades) were ready to serve their clients with expert and impartial advice towards business improvement and development.

Hong Kong’s management consulting industry continues to expand as the city is well- known for being a major international financial centre, with businesses and industries establishing their presence in Hong Kong. These provide an extensive client base and significant opportunities for management consulting in fields of corporate and business strategy, financial management, marketing strategy, etc.

Hong Kong is also well-positioned to provide consultancy services to multinational corporations and other companies in Hong Kong, China and the region. In particular, China has emerged as one of the most attractive markets for consulting firms over the last decade. Hong Kong’s pool of experienced multi-lingual consultants who mostly speak fluent English and Chinese have an edge in entering the China market and ensure effective communication on top of their quality consulting services.